Medpace Holdings, Inc. (NASDAQ:MEDP) Short Interest Update

Medpace Holdings, Inc. (NASDAQ:MEDP) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,240,000 shares, a decrease of 15.1% from the February 28th total of 1,460,000 shares. Approximately 5.0% of the shares of the stock are sold short. Based on an average daily volume of 308,400 shares, the days-to-cover ratio is presently 4.0 days.

Medpace Stock Performance

NASDAQ MEDP traded down $9.38 during trading on Thursday, hitting $301.85. The stock had a trading volume of 187,876 shares, compared to its average volume of 302,674. Medpace has a one year low of $287.44 and a one year high of $459.77. The stock has a 50 day simple moving average of $333.58 and a 200 day simple moving average of $338.33. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 3.81 and a beta of 1.45.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, February 10th. The company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.96 by $0.71. Medpace had a return on equity of 51.48% and a net margin of 19.17%. On average, sell-side analysts predict that Medpace will post 12.29 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MEDP. Lindbrook Capital LLC raised its holdings in shares of Medpace by 27.6% in the fourth quarter. Lindbrook Capital LLC now owns 134 shares of the company’s stock valued at $45,000 after acquiring an additional 29 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Medpace by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 5,384 shares of the company’s stock worth $1,789,000 after purchasing an additional 29 shares during the period. Assetmark Inc. boosted its stake in shares of Medpace by 20.1% during the fourth quarter. Assetmark Inc. now owns 173 shares of the company’s stock valued at $57,000 after purchasing an additional 29 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Medpace by 4.1% during the fourth quarter. Proficio Capital Partners LLC now owns 730 shares of the company’s stock valued at $243,000 after buying an additional 29 shares during the period. Finally, Schulhoff & Co. Inc. lifted its holdings in Medpace by 1.2% during the fourth quarter. Schulhoff & Co. Inc. now owns 2,630 shares of the company’s stock worth $874,000 after buying an additional 30 shares during the period. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MEDP. Leerink Partnrs upgraded shares of Medpace to a “hold” rating in a research report on Monday, March 24th. Robert W. Baird raised their price target on Medpace from $354.00 to $362.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Leerink Partners began coverage on Medpace in a report on Monday, March 24th. They set a “market perform” rating and a $330.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $376.30.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.